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Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
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Name : |
FAISAL ABDULLAH ALI AL MAJID ESTABLISHMENT |
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Registered Office : |
Street No. 37, Gate No. 152, Industrial Area, PO Box: 1303, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
28053 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
QATAR - ECONOMIC OVERVIEW
Qatar has prospered in the last several years with continued
high real GDP growth. Throughout the financial crisis Qatari authorities sought
to protect the local banking sector with direct investments into domestic banks.
GDP had rebounded in 2010 largely due to the increase in oil prices, and 2011's
growth was supported by Qatar's investment in expanding its gas sector. GDP
slowed to 6.3% in 2012 as Qatar''s gas sector expansion moved toward
completion. Economic policy is focused on developing Qatar''s nonassociated
natural gas reserves and increasing private and foreign investment in
non-energy sectors, but oil and gas still account for more than 50% of GDP,
roughly 85% of export earnings, and 70% of government revenues. Oil and gas
have made Qatar the world''s highest per-capita income country and the country
with the lowest unemployment. Proved oil reserves in excess of 25 billion
barrels should enable continued output at current levels for 57 years. Qatar''s
proved reserves of natural gas exceed 25 trillion cubic meters, more than 13%
of the world total and third largest in the world. Qatar''s successful 2022
world cup bid will likely accelerate large-scale infrastructure projects such
as Qatar''s metro system, light rail system, and the Qatar-Bahrain causeway.
The Hamad International Airport is projected to open by the end of 2013 with an
annual passenger capacity of 24 million.
|
Source
: CIA |
Company Name :
FAISAL ABDULLAH ALI AL MAJID ESTABLISHMENT
Country of Origin :
Qatar
Legal Form :
Sole Proprietorship
Registration Date :
2004
Commercial Registration Number :
28053, Doha
Chamber Membership Number :
10016
Invested Capital :
QR 100,000
Total Workforce :
6
Activities :
Distributors of general foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Faisal Abdullah Ali Al Majid, Proprietor & General Manager
FAISAL ABDULLAH ALI AL MAJID ESTABLISHMENT
Registered &
Physical Address
Street : Street No.
37
Area : Gate No.
152, Industrial Area
PO Box : 1303
Town : Doha
Country : Qatar
Telephone : (974) 44676564
Facsimile : (974) 44651204
Mobile : (974)
66440511
Email : danaalmajid@hotmail.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Industrial Area of Doha.
Name Position
Faisal Abdullah Ali Al Majid Proprietor
& General Manager
Date of Establishment : 2004
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 28053, Doha
Chamber Member No. : 10016
Invested Capital : QR 100,000
Mr Faisal Abdullah Ali Al Majid is the sole proprietor of the business.
Activities: Engaged in the import and
distribution of general foodstuffs, including coffee, cardamom, pulses and
spices.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: Qatari Riyals (QR)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales QR
7,600,000 QR 8,050,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Doha Bank Ltd
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
No complaints regarding subject’s payments have been reported.
According to local sources, subject’s financial condition is
satisfactory whilst payments are made in a timely manner. The company’s
operating history is reportedly clear and the above credit figure is considered
to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.